**Carlsbad Flipper Alert!**

[SD Realtor]

Aldante I have no clue what your original post meant. What does buying a home at a trustee sale have to do with the bailout?

Can you please explain?

If a home went to foreclosure then that means the original owners were not bailed out. Are we on the same page here? Now looking at this home, it went to trustee sale back in August to the lender. The current homeowner then paid 535k for it of which he got a mortgage for 374,500 and thus put the rest down in cash.

Again, I fail to see the correlation between this event and the bailout. I am listening if you would like to explain to me.

fredo4 correct it does not mean the house will sell. From the standpoint of flips, I would not classify this as a good purchase. I would be concerned about a few factors so it will be interesting to see if the seller gets his money back.

[aldante]

Sd Realtor,
Thanks for the response and putting this in perspective. I guess what I meant by this post is not that the original leanders were bailed out. What I meant was the the new buyer obviously purchased this home with the sole purpose of flipping it for 12% in a one month period. Would they be willing to do that if this bailout had not materialized?? I doubt it. I was under the impression that if it did not work out they would be asking the bank for a bailout. I did not know that they put down that much. That makes it a pretty ballsy move or just a minor move for a really weathly person.
Thank you.

[aldante]

Sd Realtor,
Thanks for the response and putting this in perspective. I guess what I meant by this post is not that the original leanders were bailed out. What I meant was the the new buyer obviously purchased this home with the sole purpose of flipping it for 12% in a one month period. Would they be willing to do that if this bailout had not materialized?? I doubt it. I was under the impression that if it did not work out they would be asking the bank for a bailout. I did not know that they put down that much. That makes it a pretty ballsy move or just a minor move for a really weathly person.
Thank you.

[aldante]

Sd Realtor,
Thanks for the response and putting this in perspective. I guess what I meant by this post is not that the original leanders were bailed out. What I meant was the the new buyer obviously purchased this home with the sole purpose of flipping it for 12% in a one month period. Would they be willing to do that if this bailout had not materialized?? I doubt it. I was under the impression that if it did not work out they would be asking the bank for a bailout. I did not know that they put down that much. That makes it a pretty ballsy move or just a minor move for a really weathly person.
Thank you.

[aldante]

Sd Realtor,
Thanks for the response and putting this in perspective. I guess what I meant by this post is not that the original leanders were bailed out. What I meant was the the new buyer obviously purchased this home with the sole purpose of flipping it for 12% in a one month period. Would they be willing to do that if this bailout had not materialized?? I doubt it. I was under the impression that if it did not work out they would be asking the bank for a bailout. I did not know that they put down that much. That makes it a pretty ballsy move or just a minor move for a really weathly person.
Thank you.

[aldante]

Sd Realtor,
Thanks for the response and putting this in perspective. I guess what I meant by this post is not that the original leanders were bailed out. What I meant was the the new buyer obviously purchased this home with the sole purpose of flipping it for 12% in a one month period. Would they be willing to do that if this bailout had not materialized?? I doubt it. I was under the impression that if it did not work out they would be asking the bank for a bailout. I did not know that they put down that much. That makes it a pretty ballsy move or just a minor move for a really weathly person.
Thank you.

[aldante]

SD Realtor,
I do not understand why it is such a stretch. The banks are working on loan modifications based on this bailout….part of the package is to reduce the principle amount.

The program’s goal is to reduce monthly payments – including taxes and association fees – to 38% of homeowners’ gross income via a combination of:

Lower mortgage rates.
Reduced principal amount.
Extended term (or duration) of loans
Some combination of the above.

So you pay 535k for a property try to sell for 598k 1 month later and if some sucker does not buy your property uncle sam will. I guess that is what I mean.

Thanks

[aldante]

SD Realtor,
I do not understand why it is such a stretch. The banks are working on loan modifications based on this bailout….part of the package is to reduce the principle amount.

The program’s goal is to reduce monthly payments – including taxes and association fees – to 38% of homeowners’ gross income via a combination of:

Lower mortgage rates.
Reduced principal amount.
Extended term (or duration) of loans
Some combination of the above.

So you pay 535k for a property try to sell for 598k 1 month later and if some sucker does not buy your property uncle sam will. I guess that is what I mean.

Thanks

[aldante]

SD Realtor,
I do not understand why it is such a stretch. The banks are working on loan modifications based on this bailout….part of the package is to reduce the principle amount.

The program’s goal is to reduce monthly payments – including taxes and association fees – to 38% of homeowners’ gross income via a combination of:

Lower mortgage rates.
Reduced principal amount.
Extended term (or duration) of loans
Some combination of the above.

So you pay 535k for a property try to sell for 598k 1 month later and if some sucker does not buy your property uncle sam will. I guess that is what I mean.

Thanks

[aldante]

SD Realtor,
I do not understand why it is such a stretch. The banks are working on loan modifications based on this bailout….part of the package is to reduce the principle amount.

The program’s goal is to reduce monthly payments – including taxes and association fees – to 38% of homeowners’ gross income via a combination of:

Lower mortgage rates.
Reduced principal amount.
Extended term (or duration) of loans
Some combination of the above.

So you pay 535k for a property try to sell for 598k 1 month later and if some sucker does not buy your property uncle sam will. I guess that is what I mean.

Thanks

[aldante]

SD Realtor,
I do not understand why it is such a stretch. The banks are working on loan modifications based on this bailout….part of the package is to reduce the principle amount.

The program’s goal is to reduce monthly payments – including taxes and association fees – to 38% of homeowners’ gross income via a combination of:

Lower mortgage rates.
Reduced principal amount.
Extended term (or duration) of loans
Some combination of the above.

So you pay 535k for a property try to sell for 598k 1 month later and if some sucker does not buy your property uncle sam will. I guess that is what I mean.

Thanks

[boomer]

Getting mad or jealous that someone might make 12% in one month is just a waste of time. If they bought at the TS, they paid all cash. People buying at the TS provide a valuable service. They are more likely to fix anything wrong with the house and put it back on the market at a reasonable price. This aids in getting the market down to the levels most of would like to see. Buying this at 535K and trying to sell at 598K is not however a spread I would feel comfortable with. Remember you have closing costs in there.

It cracks me up how pissed off people get when they think someone else might make a quick buck. It was not the “flippers” that caused this bubble. There is risk in every one of these deals. Lets see how this one plays out… I’ll bet not well.

[boomer]

Getting mad or jealous that someone might make 12% in one month is just a waste of time. If they bought at the TS, they paid all cash. People buying at the TS provide a valuable service. They are more likely to fix anything wrong with the house and put it back on the market at a reasonable price. This aids in getting the market down to the levels most of would like to see. Buying this at 535K and trying to sell at 598K is not however a spread I would feel comfortable with. Remember you have closing costs in there.

It cracks me up how pissed off people get when they think someone else might make a quick buck. It was not the “flippers” that caused this bubble. There is risk in every one of these deals. Lets see how this one plays out… I’ll bet not well.

[boomer]

Getting mad or jealous that someone might make 12% in one month is just a waste of time. If they bought at the TS, they paid all cash. People buying at the TS provide a valuable service. They are more likely to fix anything wrong with the house and put it back on the market at a reasonable price. This aids in getting the market down to the levels most of would like to see. Buying this at 535K and trying to sell at 598K is not however a spread I would feel comfortable with. Remember you have closing costs in there.

It cracks me up how pissed off people get when they think someone else might make a quick buck. It was not the “flippers” that caused this bubble. There is risk in every one of these deals. Lets see how this one plays out… I’ll bet not well.

[boomer]

Getting mad or jealous that someone might make 12% in one month is just a waste of time. If they bought at the TS, they paid all cash. People buying at the TS provide a valuable service. They are more likely to fix anything wrong with the house and put it back on the market at a reasonable price. This aids in getting the market down to the levels most of would like to see. Buying this at 535K and trying to sell at 598K is not however a spread I would feel comfortable with. Remember you have closing costs in there.

It cracks me up how pissed off people get when they think someone else might make a quick buck. It was not the “flippers” that caused this bubble. There is risk in every one of these deals. Lets see how this one plays out… I’ll bet not well.

[Author]

Posts